The venture firm Accel has raised a new fund. Its $500 million fund target the next generation of entrepreneurs in Europe and Israel. Up to now, Accel has invested in startup companies located in 19 countries.

Founded in 1983, Accel is well-known as an early and growth-stage venture capital firm. With three decades of experience, Accel has invested and backed hundred of companies including Facebook, Dropbox, Flipkart, Atlassian and Spotify. The firm has offices in New York, Bangalore, and London.

Accel has announced an Accel London V as its new $500 million fund targeting a Series A and B investment in Europe and Israel. This new fund added to the funds recently raised to target startups in the regions. Previously, Accel London IV raised a $475 million fund last two years targeting Series A investment in Europe.

In an interview with Tech Crunch, Accel partner Harry Nelis confirmed the fund will continue to target early stage investment. Most of Accel investments are made on the early stage, in either Series A or Series B investment round.

"Early stage is our sweet spot and where most of our investments are made — we typically invest in Series A and Series B rounds. Although, sometimes we go in a bit earlier when we meet an exceptional entrepreneur with a great idea or we'll write larger checks when there's a strategic opportunity to do so," said Nellis.

Venture Beat reported that total value of Accel's fund which is currently managed in Europe and Israel has reached $2.5 billion. Its London office said to generate $15 billion in exit market value in 2015.

Accel said that its new $500 million fund will focus on early growth investment. The firm also look forward to work with cloud service company offering software-as-a-service (Saas), marketplace and the startups categorized into next generation infrastructure.

"Entrepreneurship is flourishing everywhere across Europe and Israel; we've never seen so many great founders, both gritty and ambitious, come out of the region, and are excited to help them build the next generation of truly great, enduring businesses," Nellis said regarding the target investment.

Meanwhile in an interview with The Telegraph, Harry Nelis said the firm will also monitor the growing financial tech companies in Europe. "We're excited about financial services. We've already backed Funding Circle and World Remit and we believe London is an exciting market because of the combination of technology talent and financial services talent."

Accel, the Palo Alto-based venture firm has raised a new fund, Accel London V. The $500 million fund is targeting the next generation of entrepreneurs in Europe and Israel which ranging from cloud based service, mobile and also financial technology.